Momo Inc., a NASDAQ-listed Chinese mobile social networking platform, today announced that it has agreed to acquire Chinese dating app Tantan Ltd. for US$600.9 million in cash and around 5.3 million newly issued class A ordinary shares. Momo will acquire 100% of Tantan, meaning Tantan has given up its previous intentions to pursue an initial public offering. It is part of a broader trend as more Chinese start-ups are likely to seek an exit via a strategic sale, rather than …

Chinese Mobile Social Firm Momo To Acquire VC-Backed Dating App Tantan For Over $700M appeared first on China Money Network.